As stakeholders in Kentucky Retirement Systems, we wish Gov. Matt Bevin good luck in the coming four years. He’s going to need it.
The KERS non-hazardous plan covering most state employees is the worst-funded state plan in the country, with assets covering only 19 percent of liabilities. A KRS consultant estimates there is at least a 56 percent chance that plan assets will sink to the point that all long-term investments would have to be converted to cash to pay current benefits. With a cash-only portfolio that produces little income, the plan would rely almost entirely on employer and employee contributions. Since investment income is supposed to be the foundation of benefit payments, pay-as-you-go status would make total insolvency inevitable.
In the next legislative session, stakeholders will advocate ARC-plus, the full employer contribution plus additional funds to stabilize KERS. Anything less will expose the fund to fiscal instability that would lead to unsustainable employer contributions, further credit downgrades and uncertainty among the 38,000 retirees who contribute hundreds of millions of dollars to the state’s economy.
We look forward to engaging with Bevin and the General Assembly to find funding solutions to address this crisis in 2016.
I was surprised to see the headline on the editorial welcoming Matt Bevin to the governorship on Dec. 8. Surprised because the Herald-Leader had done nothing but denigrate Bevin.
Then I saw the cartoon, which was extremely offensive. I then read the editorial and realized it was as negative as all the other editorials written about him and fit beautifully with the cartoon. It would have been nice if the Herald-Leader had actually welcomed Bevin to the position of governor of Kentucky. Then they could have gone back to running him down, per their usual carping about conservatives.
Guess things never change.
Mourn for Kentucky
I know several gay and lesbian men and women in state government who wept the night Matt Bevin was elected. They wept for their state, and their own safety and livelihoods. I also know many environmentalists, myself included, who are heartbroken a coal executive was appointed to lead the Energy and Environment Cabinet. We fear for the land, water and air. As a native of Eastern Kentucky, my heart goes out to those who will likely lose access to health care and other meager social services keeping them from the abyss. I also hurt for miners sold false tales of a war on coal, as the coal seams that fed my family for generations reach exhaustion, and natural gas prices make coal mining a losing proposition. They will not get the assistance and retraining they need for a post-coal economy.
I know it isn't polite to pretend politics is anything other than a game. But for the thousands negatively affected by this election, I cannot treat this like a game. This was a triumph of fear, hate and ignorance over decency and reason, so I mourn for my old Kentucky home, and those who must now live with the consequences.
Zachary A. Horn
It is unthinkable that Gov. Matt Bevin is going to spend $23 million to dismantle Kynect and roll back the Medicaid expansion for 400,000 people, just to make a partisan political statement.
At the end of 2016, they will have received coverage for three years. To pull the rug out from under all these people is simply wrong.
After the first three years, the state will pay only 10 percent of the cost, though Bevin says 1 out of 4 on Medicaid is unsustainable. Uninsured children fell 27 percent in the first year of expansion; that alone is reason enough to keep it.
I have heard and read that Republicans represent the wealthy and special interests, whereas the Democrats represent the poor and working class. Bevin’s actions demonstrate this. I hope the 400,000 remember that Bevin imperiled their health coverage when he runs for re-election.
Don’t do it
Gov. Matt Bevin said that he wants to dismantle Kentucky's health care exchange, known as Kynect, by the end of 2016.
Please help us stop this from happening. Kentuckians cannot be survive without their health care benefits.
Gov. Matt Bevin was elected by the majority of voters, fair and square. His opponent, Jack Conway ran ads portraying Bevin as a liar, which backfired. Was that a true description of Bevin or just another attack ad with no merit?
Bevin would not release his tax returns, which he stated he would do if elected. He now states he will not release those returns as he had promised. Maybe Conway's portrayal was true after all.
Is this what we can expect for the next four years, wondering if he’s telling the truth or not? How can we believe him when he says he will do something?
Bevin should release his returns like he promised. If not, he will lose any respect he has with the voters of this state.
I suspect he will not honor the promise he made. It's going to be a long four years indeed.